Global copper sputtering target market is estimated to be valued at US$ 1.29 billion in 2023, and is expected to reach US$ 2.19 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. Copper sputtering targets are high purity copper materials that are used as a source for depositing thin copper films onto substrates via the sputtering process
Global copper sputtering target market is estimated to be valued at US$ 1.29 billion in 2023, and is expected to reach US$ 2.19 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. Copper sputtering targets are high purity copper materials that are used as a source for depositing thin copper films onto substrates via the sputtering process
Market Overview:
Copper sputtering targets are metallic plates used as a source of copper atoms during the physical vapor deposition process of sputter deposition which is used to form thin films in applications such as integrated circuits, optics and magnetic recording heads. Copper sputtering is extensively used in manufacturing semiconductor chips and microelectronic devices which require pure and uniform thin films of copper for integrated circuits and interconnect materials.
Market Dynamics:
The copper sputtering target market is expected to witness significant growth over the forecast period owing to rising demand from semiconductor industry. Copper is widely replacing aluminum in semiconductor manufacturing for on-chip interconnects due to its low resistivity. This is promoting growth of copper sputtering target market. Furthermore, increasing miniaturization of semiconductor chips has accelerated the pace of innovation and deployment of advanced node sizes such as 7 nm and 5 nm. Transition to such advanced technology nodes requires more sophisticated integration schemes and materials such as copper which is fueling market growth.
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Increasing Demand from the Electronics Industry is Driving Growth in the Copper Sputtering Target Market
The global electronics industry has been witnessing strong growth over the past few years. Electronics manufacturers are increasingly using copper sputtering targets in applications like integrated circuits, semiconductors, printed circuit boards, and flexible circuits. Copper offers advantages like high conductivity, high resonance frequency, and resistance to electromigration. As per market estimates, the demand for semiconductors alone will grow by over 7% annually in the coming years. This increase in demand is triggering greater usage of copper sputtering targets for deposition and coating processes. Leading electronics brands are ramping up production capacities which will positively impact the sales of copper sputtering targets. Along with consumer electronics, emerging opportunities in automotive electronics, IoT, and 5G networks are also augmenting the market growth.
Cost Constraints Pose a Challenge for Widespread Adoption of Copper Sputtering Targets
While copper sputtering targets deliver technical benefits, their cost is still significantly higher as compared to conventional aluminum targets. Large electronics manufacturers often prefer aluminum due to its lower cost despite copper's superior conductivity properties. The price differential is majorly attributed to the challenges in copper target production and shorter life span as compared to aluminum targets. Producing high-purity copper sputtering targets involves complex manufacturing processes and use of advanced technologies which adds to the cost. The targets also experience more wear and tear during sputtering which necessitates frequent replacement. To address this restraint, manufacturers are focusing on advancements to improve target life, reduce waste, and optimize production techniques. However, widespread commercialization remains restricted till cost parity is achieved with other materials.
Worldwide major and leading players within the market are:
★ JX Nippon Mining
★ Mitsui Mining & Smelting Co. Ltd.
★ Ultimo Technology Co. Ltd.
★ ULVAC Technologies Inc.
★ KFMI Corporation
★ Plasmaterials Inc.
★ Tosoh SMD Inc.
★ Kurt J Lesker Company
★ Testbourne Ltd
★ Praxair S.T Technology Inc.
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Segmental Overview
Copper Sputtering Target Market segmentation offers an in-depth analysis of the various segments of the market, including application, type, end use, and region. The segmentation overview section offers crucial information about the market share, sales, and growth rate for each of the segments over the forecast period. Moreover, an examination of the relative multitude of significant sub-portions in the market has been canvassed in the report.Having a knowledge about the various segments and sub-segments helps businesses recognize the importance of factors that drive industry growth.
The titled segments and sub-section of the Copper Sputtering Target market are illuminated below:
Global Copper Sputtering Target Market, By Product Type:
★ By End Use Industry: Electrical & Electronics, Automotive, Aerospace & Defense, Medical, Renewable Energy, Decorative Coatings, and Others
Global Copper Sputtering Target Market, By Applications:
★ By Application: Semiconductor, Solar Energy, Flat Panel Display, Architectural Glass, and Data Storage
Regional Analysis for Copper Sputtering Target Market: